Crude's decline pressures oil-service stocks

LisaSanders

NEW YORK (MarketWatch) - Shares in oil-service stocks followed crude lower Thursday morning, despite a better-than-expected quarterly profit report from Cooper Cameron and a bullish outlook from Jefferies & Co. on the prospects for the group. Ahead of the open of trading on the New York Mercantile Exchange, crude declined, as the market focused on a smaller-than-expected slide in U.S. crude supplies. Shares in Cooper Cameron
CAM, -1.84%
fell 41 cents to $65.44. The Philadelphia Oil Service Index
OSX, +0.37%
eased 0.7% to 150.83 points.

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